US Rental Market Trends For The Upcoming Year

The U.S. rental market is still on the rise in 2016 and Realty & Mortgage Co. is excited to share with you the top trends we’re seeing nationwide for the upcoming year. To learn more about the services that Realty & Mortgage Co. offers to apartment-seekers in the Chicagoland area, visit us online at www.RealtyMortgageCo.com or call 773.549.8400 773.549.8300.

RENTAL DEMAND

In 2016 the demand for rental housing is going to continue to increase significantly. Because of the economic challenges that have been facing the working class over the past eight years, people are just not ready to begin investing their life’s savings in real estate again yet. That means that in 2016 the demand for rental homes will continue to be just as high, and even climb with a significant amount of young workers joining the workforce and looking for inexpensive housing options.

COMPETITIVE PROPERTY MANAGEMENT & REAL ESTATE LANDSCAPE

Because the rental market is so hot right now, property management companies and real estate companies have to be better than ever at making their business work for you. This is extremely beneficial for individuals looking to rent a home because you can choose the best and the brightest realtors and cream of the crop management companies to meet your needs and cater to you.

THE DECLINE OF THE SINGLE FAMILY HOME

Single-family homes will continue to decrease in popularity in 2016. This is because Millennials are a significant portion of the real estate market and these young, white-collar workers don’t have children or families yet. They prefer to choose multi-family or high-rise apartment buildings over single-family homes in the suburbs for the time being.